AQA ECON3 - Predictions?

Anyone have an idea of how Cost & Benefit analysis questions are marked?

This is the mark scheme from January 2010 - essay 1 is about CBA.

http://store.aqa.org.uk/qual/gce/pdf/AQA-ECON3-W-MS-JAN10.PDF

:smile:

Reply 41

BobTheBuilder94

2

Original post by ineedtorevise127

In addition to this, larger firms such as Goldman Sachs are less vulnerable to takeover compared to smaller firms such as JJB and Blockbuster who went into administration due to them not being large enough.

JJB didn't go into admin cause they weren't large enough, it was cause there sales/ total revenue was continuously decreasing, so they ended up being like 100million in debt or something like that!
Paramount movies owns blockbuster -vertical intergration. So they could easily cross subsidise.

Reply 42

phoebe230253

How long should we spend on each question roughly? I struggle with timings sometime especially when there's essays :/!
Thank you =D

Posted from TSR Mobile

Reply 43

beccarose

Original post by phoebe230253

How long should we spend on each question roughly? I struggle with timings sometime especially when there's essays :/!
Thank you =D

Posted from TSR Mobile

I normally spend an hour on the data response (5/20/35) then allow myself an hour for the essay :smile:

.

Reply 44

ineedtorevise127

20

Whats likely to come up tommorow?
I have only been revising poverty, monopoly, environment and privatisation?

Reply 45

av_kidd

3

Price discrimination hasn't come up for quite a while, in fact in only came up once in June 2011 (both for a 15 marker and 25 marker) so this could come up.

Also, perfect competition and monopoly are likely to come up too I think.
I don't think Oligopoly will come up, or if it does, it won't be a 25 mark question.

I know this comes up quite often (though it didn't come up in the last paper) - objectives of firms. They often seem to throw this in, and it's a relatively easy question as long as you know your stuff on it.

There is bound to be something on government intervention/free market/public sector/private sector

Something to do with mergers/contestable markets.

How wages are determined in a perfectly competitive market compared to a imperfectly competitive market/monopsonist and how wages can be changed/influenced.

So basically things that could/likely to come up (I think):
- Perfect competition
- Price discrimination
- Monopoly
- Objectives of firms
- Government intervention v free market
- Contestable markets
- Wages/Labour markets in general

(edited 11 years ago)

Reply 46

EmilyL12

What calculations do we need to know for the econ 3 exam?

Reply 47

Cooke

1

Original post by EmilyL12

What calculations do we need to know for the econ 3 exam?

Labour market wage elasticity calculation
negative externality calculation
concertation ratio calculation

Reply 48

ineedtorevise127

20

Original post by av_kidd

Price discrimination hasn't come up for quite a while, in fact in only came up once in June 2011 (both for a 15 marker and 25 marker) so this could come up.

Also, perfect competition and monopoly are likely to come up too I think.
I don't think Oligopoly will come up, or if it does, it won't be a 25 mark question.

I know this comes up quite often (though it didn't come up in the last paper) - objectives of firms. They often seem to throw this in, and it's a relatively easy question as long as you know your stuff on it.

There is bound to be something on government intervention/free market/public sector/private sector

Something to do with mergers/contestable markets.

How wages are determined in a perfectly competitive market compared to a imperfectly competitive market/monopsonist and how wages can be changed/influenced.

So basically things that could/likely to come up (I think):
- Perfect competition
- Price discrimination
- Monopoly
- Objectives of firms
- Government intervention v free market
- Contestable markets
- Wages/Labour markets in general

What about poverty that is also quite popular?

Reply 49

ineedtorevise127

20

What is contestable markets and what are the pros and cons of it?

Reply 50

username614675

6

It's basically the theory that the number of firms in the industry is not important but that no barriers of entry are important. Since the threat of competition is enough to force Firms to operate on the lowest point of the average cost curve where ac=mc. This way consumers are protected from price fixing from monopolies or oligopolies.

Advantages - reduces government failure and they don't have to do anything

Disadvantages-firms won't make research widely available and they many start to do predatory pricing.

Although the theory is quite controversial since there are many industries that it will be difficult to recover all the sunk costs - advertising. But it states that there are no sunk costs or entry or exit.

Reply 51

username614675

6

Do you think CBA will come up? I don't really like it much. Not enough to write about and I'm not sure what diagrams to draw either. It's really vague too, hard to relate to the question, should be okay as a 15 marker though, but then what could the 25 marker be on?

Reply 52

ineedtorevise127

20

Original post by Keyan333

It's basically the theory that the number of firms in the industry is not important but that no barriers of entry are important. Since the threat of competition is enough to force Firms to operate on the lowest point of the average cost curve where ac=mc. This way consumers are protected from price fixing from monopolies or oligopolies.

Advantages - reduces government failure and they don't have to do anything

Disadvantages-firms won't make research widely available and they many start to do predatory pricing.

Although the theory is quite controversial since there are many industries that it will be difficult to recover all the sunk costs - advertising. But it states that there are no sunk costs or entry or exit.